The Kingfisher Group, which includes retailers such as B&Q and Screwfix, has published its first year results for ‘net positive’, which aims to have a positive impact on the world. The report demonstrates that businesses can support communities and the environment whilst building a profitable firm.
Creating a net positive business is about having a positive impact on people and the planet whilst creating value for the business. Kingfisher’s net positive aim focuses on four areas – timber, energy, innovation and communities – each of which has a 2020 target. For examples, over the next six years the business aims to responsibly source 100% of its timber and paper and cut energy intensity by 45%.
Kingfisher argues that by putting back more than the company takes out it can create positive change for people and the environment, and in the process build a more resilient business.
Sir Ian Cheshire, group chief executive of Kingfisher, explained, “Net positive is our response to an uncertain future, one that looks set to be increasingly dominated by resource scarcity, social inequality and global climate change.
“At Kingfisher we have long recognised our reliance on the planet’s natural capital. For example, we know that with around 40% of our products containing paper or wood, we cannot afford to see a continued decline in the world’s forests. We’re already feeling the effects of a changing climate with extreme weather and flooding costing our business.”
During the first full year of taking a “restorative approach”, the business has saved an estimated £450m due to energy efficiency and sourced 87% of timber products were responsibly sourced. Additionally, absolute carbon emissions have fallen by 5% since 2010/11 despite the business growing during this period.
Cheshire acknowledges that whilst the firm’s challenge is the right one “business ‘unusual’ isn’t easy”. Some of the challenges outlined in the report include striking the right balance between central coordination and individual operation company autonomy when it comes to sustainability and deciding on the best way to embed the values across the organisation.
The group’s sustainability director, Richard Gillies added, “To succeed with net positive we need to take a systemic and integrated approach to sustainability, one that is rooted in our business model.”
Photo: D H Wright via Flickr
Diversity in business forms can deliver sustainable growth, says report
What gets measured gets managed: sustainability in 21st century business
Lisa Nandy MP: saying goodbye to ‘antisocial’ business
Report calls for businesses to move from ‘doing less harm’ to having a positive impact
Merging the great business dilemma: profit v sustainability, responsibility and ethics
Like our Facebook Page
How Cities In Canada Are Addressing Climate Change
10 Tax Incentives for Businesses That are Lowering their Carbon Footprint
How to Manage Anxieties About Climate Change
Green Brands Must Understand Their Customers to Market Wisely
Key Necessities for Starting an Eco-Friendly Freelance Business
6 Ways To Overcome Cash Flow Challenges as a Green Business
Going Cashless Lowers Our Carbon Footprint and Has Other Pros and Cons
How to Be as Eco-Friendly as Possible on a Trip to New York
Why Brazed Plate Heat Exchangers Are Eco-Friendly
6 Steps For Making Crypto & Blockchain Eco-Friendly
How To Use Solar Power Sustainably At Home
Building a Career in Green Construction: Tips and Insights
Solar-Powered Security Systems: Protecting Your Home and the Environment
Top 5 Benefits of Workplace Sustainability
The Role of Smart Technology in Managing EV Charging Stations
4 USA Vacation Destinations for an Eco-Friendly Trip
Why Internet Faxing Is A Sustainable Business Move
5 Ways Eco-Friendly Employers Can Boost Efficiency
6 Wastewater Management Tips to Reduce Water Pollution
What to Look for When Choosing an Eco-Friendly Locksmith
- Environment3 months ago
6 Home Improvements You Can Make to Help the Environment
- Environment10 months ago
4 Countries That Have Banned Single-Use Plastic
- Features9 months ago
5 Huge Support Tips for Eco-friendly eCommerce Brands
- Environment7 months ago
How to Ensure Your Home’s Eco-Friendly During Construction?